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(CEP News) - The Canadian dollar got a boost from a fifth consecutive day of record high oil prices and strong Canadian job growth. Equities will look to open down after Citigroup said it will sell as much as $400 billion in assets and AIG announced plans to raise $12.5 billion following an unexpectedly poor first quarter.
Yields on two-year Canadian government bonds are down 1.4 bps to 2.75%, five-year yields down 3.2 bps to 3.17%, 10-year yields down 5.7 bps to 3.59% and 30-year yields down 4.8 bps to 4.09%. The Canadian 10-year note is yielding 16.15 bps less than the U.S. 10-year note. U.S. two-year yields are down 1.6 bps to 2.20%, five-year yields are down 2.7 bps to 2.94%, 10-year yields are down 2.6 bps to 3.75% and 30-year yields are down 3.6 bps to 4.51%. The Eurodollar September 08 contract is up 1.0 tick to 97.42. The 10/2 year spread flattened 0.54 bps to 154.57. The yield curve is flatter with the 10/2 yield down 0.5 bps to 154.57 bps. In Germany, returns on two-year German bonds are down 3.7 bps to 3.71%, five-year yields are down 4.1 bps to 3.77%, 10-year yields are down 5.0 bps to 4.01% and 30-year yields are down 3.5 bps to 4.52%. Yields on UK two-year bonds are down 3.0 bps to 4.29% with five-year yields down 2.8 bps to 4.26%, 10-year yields down 3.5 bps to 4.58% and 30-year yields down 1.7 bps to 4.46%. U.S. equity market futures are lower with contracts on the Dow Jones industrial average down 66 points to 12758, the S&P 500 down 6 points to 1386 and the Nasdaq down 9 points to 1956. European stock markets are also lower, with the Eurostoxx down 49.68 points to 3225.95, the UK FTSE 100 down 78.60 points to 6192.20 and the German DAX down 80.02 points to 6991.88. Asian markets were lower, with the Japanese Nikkei closing down 287.92 points to 13655.34 and the Hang Seng Index down 386.62 points to 25063.17. The euro is up 0.0040 to 1.5434 against the USD, up 0.0108 to 1.5550 against the Canadian dollar and lower by 0.56 at 159.11 against the yen. Against the U.S. dollar, the Canadian dollar is up 0.0093 to 0.9925 and the Australian dollar is lower by 0.0026 to 0.9410. The U.S. dollar is down 0.67 to 103.08 against the yen and the pound is down 0.0061 to 1.9482 USD. The Canadian dollar is up 0.32 to 102.32 against the yen. The pound is lower by 0.0245 to 1.9629 against the loonie. The U.S. Dollar Index was down 0.3270 to 73.1500. WTI crude oil is up $1.93 to $125.62 while the front month gold contract at the Chicago Board of Trade is up $3.60 to $885.50. All data taken at 9:10 a.m. EDT. By Adam Button,
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, edited by Nancy Girgis,
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